The Swiss National Bank/Schweizerische Nationalbank or SNB as it is commonly called is the official and the central bank of Switzerland. It is the only institution that can make monetary policies regarding the country and also print legal tender notes or coins otherwise known as Swiss Franc. This is one of the biggest organization in Europe by revenue and market capitalization.
It is no news that Switzerland is popular for its financial sector. Swiss banks are special because of the international banking reputation they have gained over anonymity and safeguarding of financial assets over the years.
The country is known to be a top destination for black or dirty money although in rankings China, Russia, India, Mexico and Malaysia are well ahead of the country but many ultra wealthy prefer to bank with the Swiss banks.
Swiss National Bank Wiki and History
The bank was founded in 1907 although part of its history dates as far back as 1848. In the 19th century, there was a need to reduce the banks and also have a bank to oversee the issuing of banknotes. On the 29th of May 1974, the confederation was authorized to make laws that centers around the issue and redemption of banknotes. Others policies and laws around the issue of banknotes were created that year.
In 1905, the SNB was founded although operations only began two (2) years later. Business began exactly on June 20, 1907 at Basel, Berne, Geneva, St Gallen and Zurich.
Since inception, the the bank has had 15 Presidents of the SNB Council as at March, 2021. They are:
|Johann Daniel Hirter||1906 – 1923|
|Paul Usteri||1923 – 1927|
|Alfred Sarasin||1927 – 1935|
|Gustav Schaller||1935 – 1939|
|Gottlieb Bachmann||1939 – 1947|
|Alfred Müller||1947 – 1959|
|Brenno Galli||1959 – 1978|
|Edmund Wyss||1978 – 1986|
|François Schaller||1986 – 1989|
|Peter Gerber||1989 -1993|
|Jakob Schönenberger||1993 – 1999|
|Eduard Belser||1999 – 2002|
|Hans Ulrich Raggenbass||2002 – 2012|
|Jean Studer||2012 – 2019|
|Barbara Janom Steiner||2019 – PRESENT|
Barbara Janom Steiner is the first woman to hold the position ever since the bank was founded over 100 years ago. It was indeed a historic moment for the bank and women across the world.
|Listed on Swiss Stock Exchange as SNBN|
|Zürich, Kanton Zürich.|
|500 – 1000|
Swiss National Bank Interest Rates
For a very long time now, the Swiss National Bank interest rate has stood at -0.75%. The interest rate is also known as SNB policy rate.
Below is a chart of the Swiss National Bank interest rates historically.
Here are some frequently asked questions about the bank.
What is the interest rate of Swiss bank?
The interest rate of the SNB stands at -0.75%.
Do Swiss bank accounts pay interest?
If you do hold a bank account is Swiss Francs, you will earn some interests.
Swiss National Bank Net Worth
No figure is available for this organization regarding their estimated net worth.
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